No.  5. 

In  Assembly,  Jan.  7,  1820. 

« 


REPORT 

Of  the  Commissioners  of  the  Canal  Fund. 

TO  THE  HONORABLE  THE  LEGISLATURE. 

THE  Commissioners  of  the  Canal  Fund,  pursuant  to  the  directions  of  the 
act.  entitled  "an  art  respecting;  navigable  crvnmunicalion?  between  the  trre-at 
W  estern  and  Northern  Likes  and  the  Atlantic  Ocean,"  passed  April  15,  1817, 
itsj  ectfullj  submit  the  following 

HEIGHT. 
REVENUE. 

The  annual  Revenue  of  the  "  Canal  Fund"  is  estimated  at  one  hundred  and 
eight y-teven  thousand  dollars,  arising  fiom  the  following  sources: 

Vendue  duty,  Si  10  000 

Dut\  on  S  ilt  tnanufactured  in  the  Western  District,  6 1, 000 

Tax  on  Steam  boat  passengers,  16.000 


Dollars,  187,000 

It  will  be  seen,  that  the  ent;re  Rpvenue,  in  the  present  estimate,  is  826,000 
les?  than  the  same  was  estimated  in  the  last  annual  report. 

The  duties  on  sales  at  auction,  in  1818,  appl  rable  to  t'  e  Canal  Fund,  amount- 
ed t<.  about  §146  000;  whilst  in  I8l9,  (hey  amounted  lo  about  $  \  1 1,000 — and  no 
immediate  inc  r.  asp  from  that  souicecan  reasonably  be  calculated  on.  Th*  tax 
cn  steam  boat  passengers  amounted,  in  181 8,  to  about  Si  9,000;  whibt  in  1819, 
it  amounted  M  only  about  g  1 8,000.  But  the  du  v  on  salt  manufactured  in  the 
V  i  stern  district,  which  in  KHR,  was  less  than  $49,000,  is  ascertained  to«  xc.  ed 
gOI.OCO  in  18  9;  and  it  is  behevtd  that  the  Revenue  from  tuh  suuice  wiil  con- 
tinue to  increase. 

RECEIPTS. IN  1819. 

Th-  Receipts  of  the  Commissioners  of  the  Canal  Fund,  in  1819,  were  as  fol- 
lows : — 


Loan  of 

Pieinium  thereon  of  ]J  pr.  cent. 


$175,000 
2,6£5 
 $477  625 


(       2  ) 


Loan  of 

Premium  thereon  of  2,™  per  cent. 

Loan  of  825,000  at  par, 

Duties  on  goods  sold  at  auction, 

Do.    on  salt  manufactured  in  the  Western  district, 
Tax  on  steam  boat  passengi  rs, 

To  which  add  the  balance  in  the  hands  of  the  Com- 
missioners, 3 1st  December,  1818, 


200,000 
o,260 


205.260 
25,000 

111,319  04 
51,110  69 
16,412  44 

29,719  24 


Total  receipts  in  1819,  including  balance  remaining  31st  Dec.  1818,  $619,746  14 

PAYMENTS  IN  1819. 


To  the  Canal  Commissioners, 

For  interest  on  loans, 

For  clerk  hire,  printing  and  stationary, 


RECAPITULATION. 


587,4  67  09 

38,836  64 

167  37 

Dollars,    626,471  10 


Payments  in  1819, 

Receipts  in  1311,  inc  luding  balance  on  hand,  31st  Dec.  1 8 1 9, 

Balance,  for  amount  of  which  the  State  Bank  and  Mechanics  and 
Farnvrs'  Bank  stand  overdrawn, hut  which  the  Receipts  on  ac- 
count of  the  Canal  Fund,  will  shortly  enable  them  to  discharge, 


626,471  10 
619,746  41 


3,724  69 


The  Commissioners  of  the  Canal  Fund,  are,  by  law,  authorised  to  borrow  a 
sum  which,  including  the  Rev*  nues  of  the  fund,  shall  not,  in  any  <>ne  year,  ex- 
ceed six  bundled  thou-and  dollars;  and  in  estimating  the  revenues,  they  con- 
sider the  unexpended  balance  (if  any)  at  the  end  of  any  year,  as  forming  a  part 
of  the  revenues  of  the  next.  The  Commissioners  of  the  Canal  Fund,  it  will  be 
se»  n,  somewhat  exceeded  their  powers  last  year,  owing  to  the  impossibility  of 
estimating,  \\ilh  accuracy,  the  amount  of  the  revenues.  They  can  now,  there- 
fore, only  reduce  their  lo;uis  this  year,  so  as  that  they  shall  not,  in  both  years, 
taken  together,  exceed  the  limits  prescribed  by  law. 

The  aggregate  of  the  Canal  loans,  amounts  to  eight  hundred  thousand  dollars, 
and  were  as  follows, 


In  1817, 

:  38(8, 
:  1819, 


$200,^00 
200,000 
400,000 


Dollars,  800,000 

The  Commissioners  of  the  Can*l  Fund  have  the  satisfac  tion,  at  this  time,  to 
repoit  two  munificent  grants  f  land  tint  have  been  made  to  the  people  of  this 
state,  for  the  benefit  of  ihe  Canal  Fund  ;  the  deeds  for  which  have  been  deliver- 
ed to  them,  and  by  them  filed  in  the  Secretary's  officp.  The  one  is  from  the 
Holland  Land  Company,  and  is  for  100,632  acres  in  Cattaraugus  county;  and 
the  tlier  from  the  Hon.  Gideon  Granger,  for  one  thousand  acres  in  Steuben 
county. 


The  Commissioners  of  the  Canal  Fund  have  not,  as  yet,  taken  any  measures 


(       3  ) 

for  ascertaining  the  value  of  these  lands,  nor  for  their  salp.  The  latter  grants 
they  are  informed,  is  estimated  to  be  worth  live  dollars  per  acre. 

All  which  is  respectfully  submitted. 

JOHN  TAYLER, 

HMEON  UE  WITT, 

AKC   'i>.  M'IN'i  YUE,  Compt'r. 

GERRIT  L.  DOX,  Treas'r. 

J.  V.  N.  YATES, 

THUS.  J.  OAKLEY. 

Albany,  January  4,  1820. 


O  V  L 


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